
This article means to bring out the basic ideas and foundaments of one of the major schools of macroeconomic thought: the pre-keynesian neoclassical model. In this line, through a research from the original sources, two central aspects and its implications for the “neoclassical dichotomy” emerged: “Say´s Law” and “Walras´ Law”. This article concludes that in the case of “Say´s Law”, the existence of money, although recognized, does not have formal sustain, because any physical good perform the function of unity of account. Besides, in the case of “Walras´ Law”, the article reaches the conclusion that the “neoclassical dichotomy” is valid only if all the markets clearing.
neoclassical dichotomy, Economics as a science, wa l r a ’s law, Economic history and conditions, neoclassical model, say’s law, HC10-1085, HB71-74, m a c roeconomics
neoclassical dichotomy, Economics as a science, wa l r a ’s law, Economic history and conditions, neoclassical model, say’s law, HC10-1085, HB71-74, m a c roeconomics
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